文章基本信息

标题：Empirics of Korean Shipping Companies’ Default Predictions
本地全文：下载
作者：Sunghwa Park ; Sunghwa Park ; Sunghwa Park 等
期刊名称：Risks
印刷版ISSN：2227-9091
出版年度：2021
卷号：9
期号：1
页码：159
DOI：10.3390/risks9090159
语种：English
出版社：MDPI, Open Access Journal
摘要：In this paper, we use a logit model to predict the probability of default for Korean shipping companies. We explore numerous financial ratios to find predictors of a shipping firm’s failure and construct four default prediction models. The results suggest that a model with industry specific indicators outperforms other models in predictive ability. This finding indicates that utilizing information about unique financial characteristics of the shipping industry may enhance the performance of default prediction models. Given the importance of the shipping industry in the Korean economy, this study can benefit both policymakers and market participants.